Legacy Capital Group California Inc. Acquires 122 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Legacy Capital Group California Inc. increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,452 shares of the semiconductor company’s stock after acquiring an additional 122 shares during the period. Legacy Capital Group California Inc.’s holdings in Enphase Energy were worth $578,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Mizuho Markets Americas LLC boosted its holdings in shares of Enphase Energy by 2,542.2% in the first quarter. Mizuho Markets Americas LLC now owns 2,335,000 shares of the semiconductor company’s stock valued at $64,890,000 after purchasing an additional 2,246,626 shares during the period. Norges Bank purchased a new stake in shares of Enphase Energy in the 4th quarter worth $325,230,000. Renaissance Technologies LLC grew its position in shares of Enphase Energy by 167.8% during the 1st quarter. Renaissance Technologies LLC now owns 943,428 shares of the semiconductor company’s stock worth $198,384,000 after buying an additional 591,200 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Enphase Energy by 86.2% during the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock valued at $161,657,000 after buying an additional 370,992 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Enphase Energy in the second quarter valued at about $66,424,000. Hedge funds and other institutional investors own 71.05% of the company’s stock.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $2.19 during trading hours on Friday, reaching $92.86. 3,693,191 shares of the company’s stock were exchanged, compared to its average volume of 4,250,180. The business has a fifty day moving average of $106.19 and a two-hundred day moving average of $140.07. The company has a market capitalization of $12.68 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.38 and a beta of 1.59. The company has a quick ratio of 3.13, a current ratio of 3.36 and a debt-to-equity ratio of 1.18. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $339.92.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.13. Enphase Energy had a net margin of 21.08% and a return on equity of 63.06%. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $562.27 million. As a group, research analysts predict that Enphase Energy, Inc. will post 3.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent research reports. TheStreet cut shares of Enphase Energy from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. KeyCorp dropped their target price on Enphase Energy from $200.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, October 5th. Citigroup reduced their price target on Enphase Energy from $170.00 to $167.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Truist Financial reaffirmed a “hold” rating and set a $135.00 price objective on shares of Enphase Energy in a research report on Wednesday, October 4th. Finally, Wells Fargo & Company downgraded shares of Enphase Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $230.00 to $171.00 in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $184.11.

Insider Activity

In related news, Director Thurman J. Rodgers acquired 32,600 shares of the stock in a transaction on Thursday, September 14th. The shares were bought at an average price of $122.76 per share, with a total value of $4,001,976.00. Following the completion of the purchase, the director now owns 85,200 shares of the company’s stock, valued at approximately $10,459,152. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.80% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services.